Tax Return Preparers, Crimes, and Penalties

Posted on by Moskowitz LLP Criminal Tax Law, Tax Planning & Compliance, Tax: Audits, Litigation & Collection,
with thanks to Elizabeth E. Prehn, Law Clerk The Internal Revenue Service and lawmakers across the nation have introduced a bill to Congress to Increase Tax Preparer Penalties. While this bill, introduced as the Fighting Tax Fraud Act, is aimed at blatant schemes by tax preparers to defraud taxpayers, it...
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Who does the Internal Revenue Service consider a Tax Preparer? Exploring Applicable Law

Posted on by Moskowitz LLP Tax Planning & Compliance,
Who does the Internal Revenue Service consider a tax preparer? For such a simple question, the answer can be complicated. This is an important question for attorneys, accountants, Enrolled Agents, or other professionals. Tax returns that show substantial understatements due to tax preparer error, whether it be intentional or not,...
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CALIFORNIA VOLUNTARY COMPLIANCE INITIATIVE 2 ENDS OCTOBER 31, 2011

Posted on by Moskowitz LLP Tax Planning & Compliance,
California taxpayers who underreported their state income tax liabilities through the use of offshore entities have until October 31, 2011 to avoid criminal and civil (monetary) penalties and interest by participating in the California Voluntary Compliance Initiative 2.  Due to the information sharing agreement between the IRS and the states,...
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Derek Jeter’s 3,000th Hit Ball Could Cost Fan Christian Lopez More Dollars in Taxes Than Jeter Had Hits.

Posted on by Moskowitz LLP Tax Planning & Compliance, Tax: Audits, Litigation & Collection,
Christian Lopez, 23-year old cell phone salesman from Highland Mills, NY. decided to return Derek Jeter's 3,000th hit ball last Saturday instead of trying to cash in. As a thank you by the Yankees, he received memorabilia and tickets. This all looks great for the young man who gave the...
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FOREIGN INVESTMENTS – Compliance & Disclosure issues

Posted on by Moskowitz LLP International Taxation, Tax Planning & Compliance,
As the national markets grow global, many American investors find themselves with potentially lucrative but highly complicated foreign investment opportunities. While the investments themselves and the returns thereon may be fairly simple and straightforward, the tax treatment of those investments is anything but simple and straightforward. While trying to catch...
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